Printing giant Blue Star Group have today purchased large chunks of ailing rival Geon.
The printing firm went into voluntary administration late last month and their operations in NSW and Victoria were bought by the Australian rival late yesterday.
The deal was made for an undisclosed amount of money but Blue Star said it will retain a “meaningful” number of employees, who will work from Blue Star’s existing facilities.
Blue Star bought one of Geon’s New Zealand-based printing labels earlier this week.
A statement said the company does not intend to continue to operate from current Geon sites in Mt Waverley, Banksmeadow and Parramatta.
The shift will lead to a dramatic drop in the level of competition between Australia’s magazine printers.